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Risk Analyst MRO

Apply now Job no: 066629
Work type: Permanent Full Time, Permanent Part Time
Location: England - Newcastle, Scotland - Glasgow City Centre, Remote - work from anywhere within the UK
Categories: Risk&Audit

Business Unit: Group Risk
Salary:£29,600 - £44,500 depending on experience
Location: Flexible
Contract Type: Permanent

Join Virgin Money as we transform our team into one that is ready to meet the challenges of the future, setting us up to support our ambition to disrupt the status quo and turn traditional banking on its head. We’re on the lookout for like-minded individuals and innovators to help drive our strategy forward. We’re also transforming how we work, offering our colleagues more choice, control and flexibility to live and work how they choose with A Life More Virgin.

Here’s what it means for YOU:

  • 38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)​
  • Five extra paid well-being days per year​
  • A 35-hour working week
  • 20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
  • Market leading Pension & Private Medical Insurance
  • Flexible benefits including Cycle to Work, Wellness & Health Assessments and Critical Illness
  • Ability to work anywhere in the UK​ (where the role allows)

And you get these Red-Hot Rewards from day one!

We need our Risk team to make sure that we are a responsible and safe pair of hands for our customers’ and investors’ money. We are looking for someone who shares our passion to build a better kind of bank and has the determination to help us be successful in this mission.

As part of the Model Risk Oversight team you’ll help to secure the foundations of our business decisions by supporting quantitative and qualitative validation across our model suite.

The role in a nutshell…
• Supporting the management and measurement of Model Risk
• Administration of tools such as the Model Inventory and Actions Register, including any automated Model Risk Management solution
• Production of analysis, extracts and documentation to support independent validation activities, planning or issue management (e.g. monthly action and model summaries)
• Production of reporting / MI for senior committees (e.g. Model Governance Committee) and Board on Model Risk Management, including Model Risk - Risk Appetite (RAS)
• Working with the secretariat function for Credit Model Technical Forum, including collation of materials, drafting minutes and action tracking
• Supporting the review of Validation and Model Risk Management Frameworks, advocating compliance and best practice
Encouraging the continued development of a best practice modelling culture within the bank

To be successful you’ll need to bring…
• A passion for numbers and statistics
• First Class analytical skills and ability to extract conclusions from quantitative or qualitative evidence
• Excellent data presentation and report writing skills with the ability to tell the story
• Red Hot knowledge of Microsoft Office (in particular Excel, Word and PowerPoint)
• Influencing skills; the ability to form arguments, both written and verbal in an effective straight up manner

We would like you to have (but not essential) …
• Some knowledge of modelling in a banking or financial services context (e.g. Credit Risk Modelling – PD, EAD, LGD)
• Knowledge of Banking products (Mortgages, Credit Cards, Loans, Current Accounts)
• Some knowledge of programming (e.g. SAS, VBA, R)

The list above is not comprehensive, and we are open to applications from strong candidates who are interested and capable in a role in Model Risk Oversight.

Inclusion at Virgin Money

Inclusion is at the heart of everything we do here at Virgin Money. It’s good for you, it’s good for us and it’s amazing for our customers. We know that great minds don’t think alike, so we rely on your diverse thoughts, feelings, beliefs and backgrounds to be the best we can possibly be. Got any questions about this or need some support with your application? We’d love to hear from you so get in touch with our careers team at

Now the legal bit…
Living A Life More Virgin allows our colleagues to be based anywhere in the UK (if the role allows it) but we will need to you to confirm you have the Right to Work in the UK.

If we offer you a job and you accept, there are some checks we need to complete before you can start with us. This will include a credit and criminal record check, as well as providing 3 years' worth of satisfactory references

Advertised: GMT Daylight Time
Applications close: GMT Daylight Time

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